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> assets from IBM, which GloFo "acquired" in 2014 (for -1.5 billion at the time) You used the term "acquired" along with a minus sign in front of 1.5 billion b
by lizknope 5y ago
> assets from IBM, which GloFo "acquired" in 2014 (for -1.5 billion at the time)
You used the term "acquired" along with a minus sign in front of 1.5 billion but just in case other people don't get the joke, IBM gave their fabs to Global Foundries and PAID them $1.5 billion to take them.
- _delirium 5y agoFor what it's worth, IBM is suing to try to get its $1.5 billion back, claiming that GlobalFoundries didn't uphold terms of the deal: https://www.burlingtonfreepress.com/story/news/2021/06/11/ibm-sues-globalfoundries-breach-contract-semiconductor-spat-essex-junction-microelectronics-vt/7652597002/ https://www.burlingtonfreepress.com/story/news/2021/06/11/ib...
- kken 5y agoIntel could fix that. Could be an added incentive for the deal.
- evilos 5y agoThat is incredible. Why did GloFo think they could just take the 1.5B and not deliver? I guess if they don't have to pay too much damages it's a huge free loan...
- akiselev 5y agoThis is America and they’re a corporation. It’s the price of doing business.
- nikanj 5y agoBecause example has shown time and again that you can take the $1500 million, spend $100 million on legal fees, settle for $400 million and keep a nice $billion
- detaro 5y agoTheir interpretation is probably that they, as promised, spent the 1.5B trying to deliver and it didn't work out, too bad.
- chasil 5y agoIntel PowerPC. Who would have thought it would happen?
- xyzzy21 5y ago:-) Yep. I'm glad others are aware of this. There were certain manufacturing processes that needed to be sustained for "national security" reasons. GF was an imperfect solution but it was better than the alternatives at the time.